Everything's is getting too expensive in the Philippines!

Philippines
May 28, 2008 10:17am CST
The prices of commodities in the Philippines is getting very, very expensive. I just can't see the reason why prices is so abruptly and steeply getting too expensive.
3 people like this
9 responses
• Philippines
6 Jun 08
yes, that's the reality of life here in the Philippines as well as most of the other countries in the world. You don't see the reason why? The increasing price of crude oil in the international market is one. Since most of our daily lives depend on it, for power, transportation (of goods and services), then everything will follow. Second, the law of demand and Supply. Take for instance our supply of rice now. Since our country cannot sustain nation's requirement, we import rice and the importers tend to control the price as well. So the price of rice in the market is also getting high even for the so called 'NFA' rice.
• Philippines
3 Jun 08
You bet, that's why I'm really all out seeking for extra income opportunities so I could keep up with the prices. I tell myself, I will use these rising prices to my advantage, and never to my disadvantage (whew, positive thinking to the max!) Related to that, I also do my best to cut down on unnecessary things like playing badminton, buying DVD's, buying a cup of starbucks coffee (oh, I hate giving this up, really)...so that my money will just be spent on really important things and bills whatever. Cheers
@roanne05 (1292)
• Oman
31 May 08
everywhere is the same...all commodities are all expensive...not only in philipoines...how can we live now????huhuhuh...
@tholitz (1127)
• Philippines
31 May 08
I believe it is more like a chain reaction. The price of fuel continues to rise and looks like it won't stop anymore. Since most of our commodities are using fuel in certain ways from their manufacturing up to distribution in our local stores, then expect that this rise in fuel will be reflected in the price of their products.
@Jemina (5783)
29 May 08
Not only in the Philippines, Kabaleyan. Here in the UK, electricity and gas are also getting more costly. My head is spinning when I think how life would be the day after tomorrow. I think it's time we go back to the basics as we are not given any other choice anymore. I hope they get to look for alternative ways to make petrols to run the trucks that transport commodities.
@DudaYLen (219)
• Philippines
29 May 08
One of the main causes is excessive liquidity ,when there is so too much money in the circulation relative to the supply of goods and services. Allowing more money to circulate induces people to increase their demand and services. If this increased demand is not matched by higher production , prices are bid up. Conversely,too little money to support consumption and investment tends to reduce the demand for goods and services. Given the same level of supply , lower demand for goods and services causes prices to fall. The BSP has the ability to influence money supply thereby enabling it to influence the movement in the prices of good and services. However, the BSP doest not have absolute influence . There are other important factors affecting consumer prices apart from money supply. Like weather disturbances that affect agricultural production and movements in world oil prices. These factors cannot be controlled by monetary policy.
@coffeeshot (3786)
• Australia
29 May 08
It's everywhere, man. I'm in Australia and it's just about impossible to keep up with the cost of groceries and fuel. As this happens, we must figure out ways to save money and cut down our expenditure. Prices of everything are going up but outr pay cheques are staying the same. Unfortunately there's nothing that can be done about it unless we all start a riot! Let's go!
@rsa101 (15614)
• Quezon City, Philippines
29 May 08
There are many factors you can count why the prices are soaring high in our place. Our current political instability, peace and order situation, and many more. But as the poster above had said we are not the only ones that experience it, other countries are experiencing this and we could not do anything or point the blame to just anyone else because sometimes we are part of the problem too. What best we can do here is to look for other means to be able to cope with the situation.
• Philippines
28 May 08
you get it right!!!! prices of commodities are rising not only in the Philippines but through out the world. her in United States, we are also experiencing what you did in the Philippines. This crisis now is Global, I mean world crisis not only in your country. Let us face the reality that wherever we are today it is crisis..... everywhere!!!